Binance, the world’s largest cryptocurrency exchange by market capitalisation, has announced plans to begin restoring withdrawal services in phases from November 1, 2026, following the replacement of approximately 95 per cent of funds affected by a security incident.
The exchange disclosed this in its fourth recovery update published on X on Sunday, stating that deposits remained open and were not affected by the incident.
According to Binance, the first phase of the withdrawal restoration would commence between 6:00 am and 9:00 am Coordinated Universal Time (UTC), with additional networks and digital assets to be made available after completing security and operational readiness checks.
The company explained that the phased approach was designed to prioritise tokens based on user demand over the previous week, while ensuring that each network and asset pair underwent the necessary stability and security checks before withdrawals resumed.
Binance cautioned that users might experience temporary delays or longer processing times during the initial rollout due to transaction volumes.
It advised customers whose withdrawal requests failed during the restoration process to try again after a short while, adding that more networks and assets would become accessible as they passed the required checks.
The cryptocurrency exchange also disclosed that it had replaced approximately 95 per cent of the funds affected by the incident, representing an increase from the 90 per cent reported in its previous recovery update.
According to the company, the outstanding five per cent consists mainly of tokens outside the top 10 cryptocurrencies, which are less liquid in the market and have taken longer to source in the required quantities.
Binance said it was continuing to purchase the remaining affected assets through market transactions and over-the-counter (OTC) channels.
The exchange further stated that balances for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Solana (SOL), USD Coin (USDC), XRP, USD1, RLUSD and Zcash (ZEC) were fully backed at 100 per cent.
Binance explained that it initially suspended withdrawals as a precautionary measure to enable its teams to contain the security incident, assess its impact, restore affected services and complete necessary security checks.
The company said the decision was taken to protect customers and safeguard the platform, acknowledging the importance of reliable access to withdrawal services.
As part of its recovery efforts, Binance said its teams had conducted enhanced security reviews of affected services, assessed its withdrawal infrastructure and worked with law enforcement agencies and industry partners to trace and recover the stolen funds.
It added that affected assets were also being replenished using the company’s resources.
Reassuring customers, Binance reiterated that users would not bear the financial consequences of the stolen funds, maintaining that their funds remained safe and that the company would absorb the financial impact.
The exchange also promised to publish a post-incident report containing further details after the investigation had been completed.
Binance said it would continue strengthening its security measures, completing the recovery process and monitoring the platform as withdrawal services gradually return to normal.